#gautam adani green energy

[livemintvideos]

Mukesh Ambani and Gautam Adani, two of India's biggest businessmen, are about to invest roughly $70 billion each by the end of this decade to make green hydrogen affordable, including renewable energy plants, large-scale photovoltaic cell manufacturing, electrolyzers, storage, and transportation facilities, and other components of the hydrogen ecosystem. The government declared it would cover the cost of renewable energy used to create hydrogen at a location other than the source of the power.

[entrepreneurkiawaz]

TotalEnergies Halts Investment in Adani Green Amid Bribery Allegations

TotalEnergies has decided to pause its investment in Adani Green Energy until there is more clarity regarding a U.S. bribery case involving Indian billionaire Gautam Adani, as confirmed by CEO Patrick Pouyanne on Tuesday.

The French company, which currently holds a 19.8% stake in Adani Green, has other projects in its portfolio that will help meet its renewable energy expansion targets, Pouyanne explained during an interview at the Energy Intelligence Forum with Reuters.

Pouyanne further emphasized that the firm’s ongoing renewable energy initiatives remain unaffected by this pause, ensuring that TotalEnergies can still progress toward its sustainability goals. Read more

[head-post]

Indian billionaire Adani charged in US over $265m bribery allegations

Indian billionaire Gautam Adani was charged by US prosecutors for his alleged involvement in a $265-million bribery scheme, according to Reuters.

Multiple fraud allegations against Adani, one of the world’s richest men, and seven other defendants caused his companies’ stocks and bonds to plunge on Thursday. Adani Green Energy, the company targeted by the allegations, also cancelled a $600-million bond sale.

The charges followed a major upheaval at the Adani Group last year after Hindenburg Research released a report accusing it of misusing offshore tax havens. US federal prosecutors said the defendants agreed to bribe Indian government officials to win contracts that were expected to generate $2 billion in profits over 20 years.

They also alleged that Adani and another executive of the former Adani Green Energy CEO, Vneet Jaain, raised more than $3 billion in loans and bonds while hiding their corruption from lenders and investors. The three were charged with securities fraud, conspiracy to commit securities fraud and conspiracy to commit e-fraud. The US Securities and Exchange Commission (SEC) stated:

Gautam and Sagar Adani were engaged in the bribery scheme during a September 2021 note offering by Adani Green that raised $750 million, including approximately $175 million from US investors. The SEC’s complaint against Gautam and Sagar Adani charges them with violating the antifraud provisions of the federal securities laws. The complaint seeks permanent injunctions, civil penalties, and officer and director bars.

Stocks plunging amid allegations

Shares in Adani Green Energy fell 17%, with shares in many of the conglomerate’s other companies losing more than 10%. The group lost $28 billion in value in trading on Thursday, taking the combined market capitalisation of its companies to $141 billion. Before last year’s Hindenburg report, the group enjoyed a market value of $235 billion.

Meanwhile, political opponents accused prime minister Narendra Modi’s administration of favouring Adani in government decisions. On Thursday, India’s Congress party repeated calls for a parliamentary enquiry into alleged wrongdoing by the Adani Group.

Five other defendants were charged with conspiracy to violate the Foreign Corrupt Practices Act, a US anti-bribery law, and four were charged with conspiracy to obstruct justice. However, none of the defendants were in custody, a spokesperson for US Attorney Breon Peace in Brooklyn said.

Shares in GQG Partners, an Australian-listed investment company that was a major backer of Adani, also fell 20%, the biggest one-day drop since it listed three years ago.

Gautam Adani’s fortune is estimated at $69.8bn according to Forbes, which makes him the second richest person in India after Mukesh Ambani.

Read more HERE

[poliphoon]

Will Adani be second time lucky?

It isn’t the first time that Indian billionaire Gautam Adani is facing the US music. Earlier, the accuser was US short-seller Hindenburg Research. Now, it is New York federal prosecutors. The Adani Group chairman, the second richest man in India, has been indicted by them in New York on November 20th. The charges are serious – bribery and brazen lies, securities and wire frauds, misleading US…

[aisleopedia]

Adani group stocks surf on Modi wave! Rs 1.4 lakh crore market cap added as exit polls predict NDA win

Adani Group Stock Prices today: On Monday, the shares of Gautam Adani's multi-billion dollar conglomerate experienced a significant rally, with gains reaching up to 16%. This surge followed the unanimous predictions by exit polls that Prime Minister Narendra Modi will secure a record victory in the Lok Sabha election results on Tuesday. Read More..

[techandtravel]

Adani Family Pours Big Bucks into Green Energy for India's Future

Adani Family Pours Big Bucks into Green Energy for India’s Future Green Energy -Gautam Adani, the big boss of the Adani Group, and his family are tossing a massive Rs 9,350 crore into Adani Green Energy Limited (AGEL). Why? They’re on a mission to help AGEL hit a whopping 45 GW target by 2030. This juicy investment news spilled out in AGEL’s stock exchange filing just the other day. Powering Up…

[findtek]

Adani Group: From Humble Beginnings to Indian Infrastructure Titan

India’s rise as an economic powerhouse has birthed numerous corporate giants, and the Adani Group stands tall amongst them. But this multinational conglomerate’s journey, spanning three decades, is anything but ordinary. It’s a story of audacious vision, calculated risks, and an unwavering commitment to transforming India’s infrastructure landscape. Adani’s Genesis: From Commodities to…

[roohu123]

[thiziri]

Today is a red-letter day that marks the opening of The Adani Green Energy Gallery at the @sciencemuseum in London. We are proud of the partnership with the Science Museum, led by Sir Timothy Laurence and Sir Ian Blatchford, that made this stunning gallery a reality. This gallery will serve as a pivotal public space in the understanding of sustainability, transformative technology and climate science.

© Gautam Adani

[nsfwhiphop]

Fun Fact about Gautam Adani and Samsung:

A fitting title for this detailed comparison could be:

"Bribery and Corporate Power: Parallels Between the Samsung and Adani Scandals"

This title captures the essence of the shared themes of bribery, corporate manipulation, and the misuse of political influence within both cases.

The accusations against Samsung’s leaders and the Adani executives highlight striking parallels, particularly in the realm of bribery used to secure corporate advantages and the manipulation of governance structures. Both cases demonstrate how high-level executives exploited their influence and resources, resulting in allegations of significant legal violations. Here’s a detailed comparison:

1. Bribery to Secure Political Favor

Samsung Executives: Samsung’s leadership, including Lee Jae-yong, was accused of paying substantial bribes to South Korean officials, including former President Park Geun-hye and her confidante, to ensure government support for a controversial merger. This merger was critical to consolidating Lee's control over Samsung's sprawling corporate empire.

Adani Executives: Gautam Adani and his nephew Sagar Adani were accused of orchestrating a bribery scheme that promised millions to Indian government officials to secure favorable terms for a large solar energy project. These bribes aimed to grant their company financial and contractual advantages.

2. Deceptive Practices to Mask Corruption

Samsung: The bribes were channeled through indirect means, such as donations to non-profits linked to influential individuals, creating a veneer of legitimacy while concealing illicit intent. This lack of transparency became a focal point in legal proceedings.

Adani: The Adani Group was accused of falsely representing its adherence to anti-corruption measures in official documents, such as bond offering materials. These claims were undermined by evidence of systematic bribery behind the scenes.

3. Strategic Use of Corruption for Business Gains

Samsung: The bribery was strategically aimed at facilitating a merger between two Samsung affiliates, a move designed to solidify Lee’s control over the conglomerate’s leadership amidst internal power struggles.

Adani: The alleged bribes were intended to secure government contracts under highly favorable terms for Adani Green Energy Ltd., enhancing the company’s market position and profitability.

4. Violations of Legal Frameworks

Samsung: The actions breached South Korean anti-corruption laws and highlighted systemic governance flaws within corporate and political institutions. The legal repercussions included jail sentences for top executives and heightened scrutiny on chaebol (conglomerate) governance in South Korea.

Adani: The bribery accusations implicated violations of the U.S. Foreign Corrupt Practices Act (FCPA) and securities laws, given the involvement of U.S. investors in Adani’s bond offerings. This global dimension added layers of complexity and potential penalties.

5. Impact on Reputation and Leadership

Samsung: The corruption scandal severely tarnished Samsung’s global reputation and temporarily destabilized its leadership structure. Lee Jae-yong served prison time before being released and later controversially pardoned, illustrating the political entanglements of the case.

Adani: While investigations into the Adani Group's alleged misconduct continue, the revelations have drawn significant attention to the conglomerate’s operations and its close ties to political figures, raising questions about ethical governance and accountability.

Both cases underline how corporate leaders, driven by the pursuit of power and profits, risk crossing ethical and legal boundaries. Despite differences in geography and industry, the core similarity lies in leveraging bribery to influence governance for personal or corporate advantage, ultimately exposing vulnerabilities in regulatory oversight.

[mariacallous]

In January, after New York-based short seller Hindenburg Research released a report accusing Adani Group of accounting fraud and stock manipulation, the Indian conglomerate defended itself by appealing to nationalism. “This is … a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” the group said in a 413-page response refuting the allegations.

It is no surprise that Adani Group tied itself to India’s “growth story.” The industrial empire of Gautam Adani, the group’s founder, has been key to Prime Minister Narendra Modi’s vision for India, which centers on big infrastructure projects as drivers of growth. In turn, Adani’s support for Modi’s nation-building plans, from airports to green hydrogen plants, has propelled his conglomerate’s meteoric rise. From 2014 to December 2022, Adani Group’s market capitalization soared from $6.5 billion to more than $223 billion.

Hindenburg’s report triggered a sudden reversal, however. The value of Adani Group’s publicly traded stocks soon fell by more than half—a rout that has continued a month after the report’s release. Modi has chosen to remain quiet about the affair, even as it has raised serious questions about India’s economy.

If Adani Group seeks refuge from criticism by tying its success to that of India’s, then the converse must also be reckoned with: The collapse of its shares represents a stress test for India’s growth project. It has cast doubt on whether Modi’s strategy of propping up a few favored corporate titans can translate into lasting results on the ground. And, beyond that, whether Modi’s India can deliver on hopes that it could become a driver of global economic growth, as China was for the past three decades.

Modi’s rise has long been intertwined with that of Adani’s. As chief minister of Gujarat from 2001 to 2014, Modi made his name through his so-called Gujarat model of development, with its large infrastructure projects, such as dams, extensive highways, and solar power plants. Adani was critical not just to constructing many of these projects but also to bringing big business around to the idea of Modi as a potential prime minister. After Modi was elected in 2014, he flew from Gujarat to his new home of New Delhi in Adani’s private jet.

As Modi became India’s most popular leader since the republic’s first prime minister, Jawaharlal Nehru, Adani’s business interests expanded. His conglomerate partnered with the government on critical infrastructure projects within India and, increasingly, abroad. Since Modi entered office, Adani’s net worth increased by more than 5,000 percent to $150 billion in September 2022, making him Asia’s richest man before the scandal. His wealth came largely on the back of winning government contracts; expanding into strategic sectors, such as clean energy and defense; and building critical infrastructure projects. For instance, Adani Group secured seven out of the eight airports that the Indian government leased out to private companies. These kinds of contracts, in turn, led to more interest in Adani Group stock from investors.

The government has undoubtedly placed its trust in Adani, but the Hindenburg report could be a stumbling block in Modi’s plans to ensure that India remains the world’s fastest-growing major economy. After the brutal stock rout, the group called off a $2.5 billion share sale and had to delay its expansion plans. A margin call followed, leading Adani to prepay a $1.1 billion loan. Meanwhile, French energy giant TotalEnergies has put on hold a $4 billion investment in an Adani Group green hydrogen project.

Over his tenure, Modi has been unwilling or unable to push through structural reform that would allow more companies to enter new sectors without significant risk-taking. He therefore has no option but to depend on national champions, such as Adani. But even among Indian billionaires, Adani is unique. Very few businesspeople enjoy the government’s confidence, can navigate dizzying state regulation, and, most of all, are willing to risk enormous amounts of capital.

In 2015, Credit Suisse published its House of Debt report, which examined the precarious debt levels of 10 prominent Indian business groups with a significant presence in various infrastructure sectors. Out of the 10 groups, many have ended up in bankruptcy courts in recent years, while others have pursued debt consolidation plans. Only one group—the Adani conglomerate—has continued to borrow and invest at a breathtaking pace.

The Economist has estimated that the combined revenues of companies controlled by Adani and fellow tycoon Mukesh Ambani, chair of India’s Reliance Industries, are equivalent to 4 percent of India’s GDP. Firms controlled by the pair also account for nearly a quarter of the capital spending of all publicly traded non-financial firms.

While many analysts fret over whether Adani Group is too big to fail, the more pertinent question is whether Adani has been too integral to the Indian economic project to fail.

Modi now faces a difficult dilemma. On the one hand, he relies heavily on large infrastructure development delivered by India’s billionaires. For example, Adani plans to develop massive renewable energy projects—and without them, India would find it challenging to fulfill its commitment to meet 50 percent of its energy requirements with renewables by 2030.

On the other hand, if Modi continues to protect Adani—as India’s opposition has alleged—by not addressing Hindenburg’s allegations, he runs the risk of undermining the credibility of India’s corporate governance and, by extension, its growth narrative.

Although India’s financial regulatory institutions are far from perfect, India has an established history of investigating and punishing financial fraud. The Adani Group scandal, however, has cast doubt on the ability of these institutions—such as the Securities and Exchange Board of India (SEBI), the country’s capital markets regulator—to operate independently.

It’s worth asking whether the Adani saga could have been anticipated, investigated, and defused long before Hindenburg came along if watchdogs had done their job.

Consider, for instance, a puzzling question that Hindenburg has sought to address: What explains the mind-boggling rise in the price of many Adani Group stocks? The price-to-earnings ratio of Adani Enterprises, the conglomerate’s flagship entity, went from 37.6 to 343.9 in just two years. But as experts have pointed out, growth of that nature is typically seen in companies in the technology sector, not brick-and-mortar industries.

There could be innocuous explanations, but the fact that the company’s board of directors didn’t examine the issue publicly opened the door for worrying allegations put forth by Hindenburg. In particular, the short seller has alleged that Adani Group’s stocks are being inflated by the conglomerate itself through secretive offshore entities.

This brings us to the question of what India’s stock market and banking regulators were doing. Long before Hindenburg came along, news outlets had pointed to the existence of three Mauritius-based funds that appeared to only invest in Adani Group companies and whose ultimate ownership was opaque. Why weren’t these funds forced to furnish details of their ownership structure at any point in the last few years and nip allegations of “round-tripping” in the bud?

In addition, SEBI continued to sign off on the conglomerate’s fundraising proposals even though the Indian government disclosed in Parliament in 2021 that SEBI had begun a probe to investigate some Adani Group companies over “non-compliance of rules.” It’s unclear what the scope of the SEBI investigation was and whether it has concluded.

For years, India’s beleaguered political opposition has accused regulatory authorities of corruption and raised allegations of crony capitalism, specifically pointing to Adani. But given the opposition’s lack of specific allegations made against SEBI, it seems more likely that the economy and stock market’s overseers are simply indifferent and plagued by inertia. Regardless, these accusations, and the Adani Group controversy, have not hurt Modi’s popularity, thanks in part to his administration’s tight control over the mainstream media.

Yet there may be consequences that stem from outside of India’s borders. It’s possible that global investors will become less bullish on India if they think that Indian business empires won’t be able to build necessary infrastructure or be reined in by domestic regulatory systems. Overseas partnerships and joint ventures could face headwinds as well, just as the Adani-TotalEnergies partnership has.

A fair, independent, and transparent probe into the allegations against Adani Group could ease these fears. Modi has so far ignored demands for one made by opposition political parties. But continuing to do so could very well be damaging to the long-term economic interests of India, and the world, even if it does not hurt Modi politically in the short term.

[adanicase]

The US Department of Justice has recently indicted Adani Green Energy Limited over allegations of paying 250 million USD in bribes to secure power solar power contracts that would help Adani Group earn profits worth 2 billion USD over the next two decades. However, the global conglomerate has strongly denied the allegations of the Adani Bribery Scandal.

[intensifyre]

Adani Green Energy shares rally 9% after Gautam Adani responds to bribery allegations and legal scrutiny

Intensify Research is a trusted high accuracy stock market tips site committed to empowering investors with the most reliable stock market insights. Our team of expert analysts uses advanced tools and strategies to provide you with high accuracy stock market tips that enhance your chances of success. Whether you’re looking for short-term opportunities or long-term growth, our precise recommendations are designed to maximize your investment returns. visit-https://intensifyresearch.com/web/landingpage

[globalnews1]

This photograph taken on January 11, 2024, shows a general view of the Adani Group owned Mundra Port in Mundra.Punit Paranjpe | Afp | Getty ImagesShares in India's Adani Group climbed further on Friday, resuming a multi-day rally on the back of the group's statement refuting bribery charges against its billionaire chairman, Gautam Adani.Adani Green Energy, the company in the eye of the U.S. indictment storm, jumped as much as 19%. The stock has substantially recouped its losses since its worst day in six months on Nov. 21, when it plunged over 18% to 1,145.70 rupee. The stock was last trading at 1,286.1 on Friday.Adani Energy rose as much as 14.4% on Friday while Adani Total surged as much as 7.2% — it has gained 43% since the selloff following the indictment. TotalEnergies had announced to suspend new investments linked to Adani Group.The recent rebound in the stocks reflected "a cautious improvement in investor sentiment," Mohit Mirpuri, equity fund manager at SGMC Capital told CNBC, while cautioning of more volatility as the case unfolds.The stock recovery follows a filing by Adani Green Energy on Wednesday, which stated Adani and his nephew Sagar Adani "have not been charged with any violation of the FCPA [U.S. Foreign Corrupt Practices Act] in the counts set forth in the indictment."Following the Wednesday release, Adani Green Energy stock rebounded 10%, while the flagship Adani Enterprises jumped 11.5%.Adani and the seven other defendants were indicted in a New York federal court last week over their alleged involvement in an extensive bribery and fraud scheme.The 62-year-old billionaire was accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.The Indian industrial tycoon was also charged with misleading U.S. and international investors about the company's adherence to antibribery and anticorruption standards while raising over $3 billion to finance energy projects.Following the indictment, the group saw a massive sell-off in its stocks, while investors and partners rolled back fresh funds and contracts tied to the group's businesses spanning across the world. Fitch Ratings had put several dollar bonds issued by Adani Group companies on its negative ratings watchlist.While those developments would "hurt Adani's credibility and growth prospects," the conglomerate enjoyed "strong government backing and sufficient liquidity to back their borrowings," said Arpit Chaturvedi, an advisor with Teneo's geopolitical risk advisory team."The group's relations with capital sources elsewhere such as the Middle East and domestically, are likely to remain unharmed," Chaturvedi added.Referring to the few comparable players in India's infrastructure and energy sectors, Mirpuri noted that the investors' confidence will likely hinge on the "resolution of the ongoing legal challenges" and Adani Group's steps aimed at enhancing transparency.

[finvestmentpro]

Why Mutual Funds Invested in 46 Lakh Shares of Adani Enterprises Last Month?

In October, Mutual Fund invested in around 46 lakh shares of Adani Enterprises, and the number of shares increased by 2.5 crore in September to approx. 2.96 crore, as per a report.

Shares of Adani Enterprises, which saw a 20% drop on Thursday due to charges against billionaire Gautam Adani and seven others in the United States over a multibillion-dollar bribery and fraud scheme, were considered the top large-cap picks for mutual funds last month.

Adani Enterprises

According to data sourced from NSE, Quant Mutual Fund bought about 66.61 lakh shares of Adani Enterprises; on the other side, Invesco Mutual Fund sold approximately 7.57 lakh shares of the same stock.

Adani Power

Tata Mutual Fund decreased its holdings in Adani Power by selling approximately 19.99 lakh shares from its portfolio during October.

Adani Ports and Special Economic Zone (SEZ)

Sundaram Mutual Fund bought around 5.68 lakh shares of Adani Ports and Special Economic Zone (SEZ).

ACC

Nippon India Mutual Fund completely exited its position in ACC in October by selling around 82,224 shares.

As per the case filed on Gautam Adani by the US Securities and Exchange Commission, he has been charged with reportedly “defrauding American investors and bribing officials.” Adani, nephew of Adani, Cyril Cabanes, executives of Adani Green Energy, and an executive of Azure Power Global Ltd. were charged with “conspiracy to commit securities and wire fraud, as well as substantive securities fraud, for their role in the multi-billion-dollar scam to raise money from US investors and global financial institutions by misleading statements.”

According to the indictment, Adani and others who are involved paid around $265 million in bribes and expected that these contracts would bring $2 billion in profit over 20 years. Prosecutors said those involved in the scheme used the code names “Numero uno” and “the big man” to refer to Gautam Adani.

The indictment also charges that Adani, his nephew Sagar Adani, and another executive, Vneet Jaain, made things difficult by hiding bribes to obtain more than $3 billion in loans and bonds for Adani Green Energy.

[investorocean0007]

जानिए क्या है सचाई Adani Case की - Adani Bribery & Fraud Allegations | Adani Companies to Fall More?

The Adani Group, one of India’s largest conglomerates, has become synonymous with rapid growth and diversification. Founded in 1988 by Gautam Adani, the group has established a formidable presence in infrastructure, energy, logistics, and more. While admired for its entrepreneurial spirit and contributions to India's economic development, the Adani Group has also been at the center of controversies, including allegations of monopolistic practices, environmental concerns, and financial irregularities. This case study examines the group’s meteoric rise, its business model, challenges, and its future outlook.

Origins and Expansion Gautam Adani started as a commodities trader and laid the foundation for the Adani Group in Ahmedabad. Over the years, the company diversified into critical sectors, aligning its growth with India's economic priorities:

Ports and Logistics:

Adani Ports and Special Economic Zone (APSEZ) is India’s largest port operator, managing major ports like Mundra, India's largest commercial port.

The group's integrated logistics solutions, including rail and road networks, strengthened its position in global trade.

Energy and Power:

Adani Power became India's largest private thermal power producer.

The group has heavily invested in renewable energy, with Adani Green Energy becoming one of the world’s largest solar energy companies.

Agriculture and Food Processing:

With ventures in agri-infrastructure, edible oils, and food processing, the group contributes to India's agrarian economy.

New Ventures:

The group has entered airports, data centers, and defense manufacturing, showcasing its ambition to dominate multiple industries.

Business Model and Strategy The Adani Group’s growth has been characterized by:

Infrastructure-Driven Expansion: Strategic investments in infrastructure aligned with government priorities, such as ports, airports, and renewable energy projects.

Leveraging Debt: The group has consistently relied on significant debt to finance its expansion, raising questions about financial sustainability.

Vertical Integration: Ownership across the value chain, such as coal mining, transportation, and power generation, enhances efficiency and profitability.

Public-Private Partnerships: Collaboration with government projects, such as the Udan initiative for regional air connectivity, has boosted its portfolio.

Achievements

Global Leadership in Renewables: Adani Green Energy has positioned India as a leader in clean energy by undertaking massive solar and wind projects.

Economic Impact: The group's investments have created jobs, supported local communities, and contributed to India's GDP.

International Footprint: Acquisitions like Australia's Carmichael coal mines and collaborations in Sri Lanka and Israel have made the group a global player.

Controversies and Criticism

Environmental Concerns:

The Carmichael coal project in Australia faced global backlash for its environmental impact and proximity to the Great Barrier Reef.

Allegations of Favoritism:

Critics allege that the Adani Group has benefited disproportionately from its close ties with the Indian government, especially under the Narendra Modi administration.

Debt and Financial Transparency:

As of recent years, the group's debt levels have raised concerns among investors, with allegations of opaque financial practices.

Hindenburg Report:

In January 2023, Hindenburg Research accused the Adani Group of stock manipulation and accounting fraud. While the group denied these allegations, its market valuation saw a sharp decline, affecting investor confidence.

Response to Challenges

Legal Actions: The group has taken steps to address allegations, including independent audits and legal challenges.

Debt Reduction Plans: Adani announced plans to prioritize deleveraging its balance sheet and focus on cash-flow-positive projects.

Commitment to Sustainability: Increasing investments in renewable energy aim to counter criticisms of its fossil fuel ventures.

Future Prospects The Adani Group’s focus on renewable energy, digital infrastructure, and global expansion aligns with global trends. Its ambitious projects, such as hydrogen production and smart cities, reflect its vision for long-term sustainability and innovation.

However, the group must address concerns about governance, financial transparency, and environmental stewardship to maintain investor confidence and public trust.

Conclusion The Adani Group embodies the duality of modern corporate giants: remarkable growth and innovation tempered by controversies and challenges. Its journey offers valuable lessons in ambition, risk-taking, and the importance of sustainable practices in achieving global leadership.

4o